Ten Elements You Need to Create Strategic Referral Partnerships
Referral Partnerships – when I was running product management for a software company the first thing I tried to do when launching a new product was fill in the missing features of our solution through the creation of strategic partnerships. In my five years of coaching and working with small business owners, both through my own business and in my capacity as the area director of Western PA’s region of BNI, I’ve met many entrepreneurs who tried and failed to grow their business through networking organizations.
They thought all they had to do was meet a new referral partner, exchange a few emails and phone calls, and make sure the other person knew who their ideal client was and how to make the introduction, and referrals would start pouring in.
If you’ve tried this strategy, you’ve probably noticed that it doesn’t work. You’ve likely spent hours attending networking events, having conversations, and doing follow-ups, and received little or no return on your investment.
In this article, I’ll explain why that happens, and what you can do to break that pattern and start getting more clients from your networking efforts.